Goldman Sachs JUST U.S. Large Cap Equity ETF
ALTAR
Score™
4.8% info Recommen-
dation
NEUTRAL
2021E    2022E
P/E
ratio
21.9x P/Sales
ratio
2.6x
P/BV
ratio
3.6x Div.
yield
1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
JUST tracks a tier-weighted index of US-listed large-cap stocks selected based on a survey-based assessment of business behavior.

FUND BASICS
Category US Equities
Fund Sponsor Goldman Sachs
Website www.gsam.com
Inception date Jun 07, 2018
Assets (mns) $199
Currency USD
Expense ratio 20 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 457
Wgt avg mkt cap (mns) $494,346
Large cap (>$10bn) 98.0%
Mid cap ($2-10bn) 2.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 6.2 %
MICROSOFT CORP 5.6 %
AMAZON.COM INC 4.5 %
FACEBOOK 2.0 %
ALPHABET INC. CLASS A 1.9 %
ALPHABET INC. CLASS C 1.9 %
JPMORGAN CHASE & CO 1.7 %
JOHNSON & JOHNSON 1.4 %
VISA INC-CLASS A SHARES 1.4 %
PROCTER & GAMBLE CO/THE 1.3 %
Total 27.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.7 %
IRELAND 1.9 %
BRITAIN 0.8 %
SWITZERLAND 0.4 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
2.2% 33.6% -- -- 16.0%

Market Correlations
versus... Beta R-squared
S&P500 1.00 100%
MSCI EAFE 0.94 85%
MSCI Emg. Mkts. 0.76 69%

Technical Indicators
Recent close $55.66
30d moving avg. $55.90
Annualized volatility 19.5%
Short interest (ETF) 0.6%
Short interest (Underlying) 1.4%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 16
Turnover 0.5%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $213,728

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the Goldman Sachs JUST U.S. Large Cap Equity ETF ETF based on the alternatives' overlap in portfolio holdings with JUST. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: JUST Expense: 20 bp ALTAR Score™: 4.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JUST
Ticker Fund
Name
Overlap1
vs JUST
(%)
Expense
ratio
(bp)
Savings
vs JUST
(bp)
ALTAR
Score™
(%)
ALTAR
vs JUST
(%)
ESGV Vanguard ESG U.S. Stock ETF 86.6 12 8 4.7 -0.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 85.2 20 0 4.9 +0.2
PBP Invesco S&P 500 BuyWrite ETF 84.8 49 -29 4.5 -0.3
XYLG Global X S&P 500 Covered Call & Growth ETF 84.4 60 -40 4.4 -0.4
SPY SPDR S&P 500 ETF Trust 84.1 9 11 4.9 +0.1
SPLG SPDR Portfolio Large Cap ETF 84.0 3 17 5.0 +0.2
IVV iShares Core S&P 500 ETF 84.0 3 17 4.9 +0.2
SPXE ProShares S&P 500 Ex-Energy ETF 83.3 27 -7 4.8 +0.0
MGC Vanguard Mega Cap Index Fund 82.8 7 13 4.8 +0.0
VOO VANGUARD S&P 500 ETF 82.6 3 17 4.9 +0.2
XVV iShares ESG Screened S&P 500 ETF 82.3 8 12 5.0 +0.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 82.1 7 13 4.7 -0.1
IWL iShares Russell Top 200 ETF 81.1 15 5 4.7 -0.1
BKLC BNY Mellon US Large Cap Core Equity ETF 80.8 0 20 4.8 -0.0
PBUS Invesco PureBeta MSCI USA ETF 80.8 4 16 4.8 +0.0
VV Vanguard Large-Cap Index Fund 80.6 4 16 4.8 -0.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 80.5 2 18 4.8 +0.1
SPXN ProShares S&P 500 Ex-Financials ETF 79.3 27 -7 4.5 -0.3
SCHX Schwab U.S. Large-Cap ETF 79.0 3 17 4.8 -0.0
SPXV ProShares S&P 500 Ex-Health Care ETF 78.5 27 -7 4.5 -0.3
SPTM SPDR Portfolio Total Stock Market ETF 77.8 3 17 5.0 +0.2
IWB iShares Russell 1000 ETF 77.6 15 5 4.7 -0.1
IYY iShares Dow Jones U.S. ETF 76.5 20 0 4.6 -0.2
SCHK Schwab 1000 Index ETF 76.4 5 15 4.7 -0.1
ESGU iShares MSCI USA ESG Optimized ETF 75.6 15 5 4.7 -0.1
CATH Global X S&P 500 Catholic Values Custom ETF 75.5 29 -9 4.7 -0.1
SNPE Xtrackers S&P 500 ESG ETF 74.7 10 10 4.9 +0.1
EFIV SPDR S&P 500 ESG ETF 74.7 10 10 4.9 +0.1
VONE Vanguard Russell 1000 ETF 74.6 8 12 4.7 -0.1
VTHR Vanguard Russell 3000 Index Fund 72.7 10 10 4.6 -0.2
JCTR JPMorgan Carbon Transition U.S. Equity ETF 72.5 15 5 5.0 +0.2
IWV iShares Russell 3000 ETF 72.3 20 0 4.5 -0.3
SCHB Schwab U.S. Broad Market ETF 71.9 3 17 4.6 -0.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 71.4 3 17 4.6 -0.2
IQSU IQ Candriam ESG US Equity ETF 70.5 9 11 4.7 -0.1
VTI Vanguard Total Stock Market Index Fund 69.9 3 17 4.6 -0.2
DFAU Dimensional US Core Equity Market ETF 69.8 12 8 4.9 +0.1
SFY SoFi Select 500 ETF 68.7 0 20 4.8 -0.0
SPXT ProShares S&P 500 Ex-Technology ETF 67.7 27 -7 5.1 +0.3
OEF iShares S&P 100 ETF 67.2 20 0 4.6 -0.2
JHML John Hancock Multifactor Large Cap ETF 67.1 29 -9 5.0 +0.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 66.4 9 11 5.1 +0.3
MMTM SPDR S&P 1500 Momentum Tilt ETF 66.2 12 8 4.2 -0.6
EPS WisdomTree U.S. Earnings 500 Fund 64.6 8 12 6.2 +1.4
ESG FlexShares STOXX US ESG Impact Index Fund 64.5 32 -12 4.8 -0.0
QUS SPDR MSCI USA StrategicFactors ETF 64.4 15 5 5.5 +0.7
ACVF American Conservative Values ETF 62.8 75 -55 4.4 -0.4
VOOG Vanguard S&P 500 Growth ETF 60.9 10 10 4.0 -0.8
DIVB iShares U.S. Dividend & Buyback ETF 60.1 25 -5 6.0 +1.2
XOUT GraniteShares XOUT U.S. Large Cap ETF 60.1 60 -40 3.7 -1.1
SPYG SPDR Portfolio S&P 500 Growth ETF 59.7 4 16 4.0 -0.8
IVW iShares S&P 500 Growth ETF 59.7 18 2 3.9 -0.9
IUSG iShares Core S&P US Growth ETF 59.3 4 16 4.0 -0.8
AVUS Avantis U.S. Equity ETF 59.0 15 5 5.1 +0.3
VOOV Vanguard S&P 500 Value ETF 59.0 10 10 6.3 +1.5
FNDX Schwab Fundamental U.S. Large Co. Index ETF 59.0 25 -5 5.7 +0.9
PRF Invesco FTSE RAFI US 1000 ETF 58.7 39 -19 5.8 +1.0
WOMN Impact Shares YWCA Women's Empowerment ETF 58.0 75 -55 4.5 -0.3
TOK iShares MSCI Kokusai ETF 57.7 25 -5 5.0 +0.2
KOKU Xtrackers MSCI Kokusai Equity ETF 57.7 9 11 5.2 +0.4
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 57.2 15 5 0.0 -4.8
IWF iShares Russell 1000 Growth ETF 56.6 19 1 3.7 -1.1
FNDB Schwab Fundamental U.S. Broad Market Index ETF 56.3 25 -5 5.6 +0.8
VONG Vanguard Russell 1000 Growth Index Fund 56.1 8 12 3.8 -1.0
SPYV SPDR Portfolio S&P 500 Value ETF 55.7 4 16 6.3 +1.5
NACP Impact Shares NAACP Minority Empowerment ETF 55.7 49 -29 4.6 -0.2
IVE iShares S&P 500 Value ETF 55.7 18 2 6.2 +1.4
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 55.4 25 -5 5.0 +0.2
IUSV iShares Core S&P U.S. Value ETF 55.4 4 16 6.4 +1.6
SCHV Schwab U.S. Large-Cap Value ETF 54.5 4 16 6.2 +1.4
IUS Invesco Strategic US ETF 54.4 19 1 5.3 +0.6
DSI iShares MSCI KLD 400 Social ETF 54.3 25 -5 4.7 -0.1
HIPR Direxion High Growth ETF 53.8 40 -20 4.2 -0.6
DLN WisdomTree U.S. LargeCap Dividend Fund 53.8 28 -8 6.4 +1.6
RWL Invesco S&P 500 Revenue ETF 53.8 39 -19 6.1 +1.3
XLG Invesco S&P 500 Top 50 ETF 53.7 20 0 4.4 -0.4
DYNF BlackRock U.S. Equity Factor Rotation ETF 53.6 30 -10 5.5 +0.8
KRMA Global X Conscious Companies ETF 53.6 43 -23 5.1 +0.3
RESP WisdomTree US ESG Fund of Benef Interest 53.6 28 -8 5.5 +0.7
VONV Vanguard Russell 1000 Value Index Fund 53.5 8 12 6.1 +1.3
URTH iShares MSCI World ETF 53.2 24 -4 5.1 +0.3
DTD WisdomTree U.S.Total Dividend Fund 52.7 28 -8 6.5 +1.7
IWD iShares Russell 1000 Value ETF 52.7 19 1 6.0 +1.2
VUG Vanguard Growth Index Fund 52.4 4 16 3.6 -1.2
IWY iShares Russell Top 200 Growth ETF 52.2 20 0 3.9 -0.9
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 52.0 30 -10 5.2 +0.4
VLU SPDR S&P 1500 Value Tilt ETF 50.7 12 8 6.0 +1.2
ESGG FlexShares STOXX Global ESG Impact Index Fund 50.7 42 -22 4.9 +0.1
RECS Columbia Research Enhanced Core ETF 50.5 15 5 5.5 +0.7
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 49.8 10 10 5.0 +0.2
SUSL iShares ESG MSCI USA Leaders ETF 49.8 10 10 5.0 +0.2
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 49.2 49 -29 3.8 -1.0
SUSA iShares MSCI USA ESG Select ETF 49.2 25 -5 4.5 -0.3
DGRO iShares Core Dividend Growth ETF 47.8 8 12 6.4 +1.6
EQWL Invesco Russell Top 200 Equal Weight ETF 47.8 25 -5 5.9 +1.1
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 47.6 19 1 5.3 +0.5
MGK Vanguard Mega Cap Growth ETF 47.1 7 13 3.8 -1.0
QWLD SPDR MSCI World StrategicFactors ETF 47.1 30 -10 5.6 +0.8

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2016 2017 2018 2019 2020 2021E 2022E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2020 2021E 2022E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Goldman Sachs JUST U.S. Large Cap Equity ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.7 %
Divided by: Fwd. P/BV 3.5 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 4.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.42 CATEGORY
AVERAGE
1.50
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.